The Middle East & Africa B2B food marketplace platform market is expected to grow from US$ 1,568.98 million in 2022 to US$ 3,436.00 million by 2028. It is estimated to grow at a CAGR of 14.0% from 2022 to 2028.
The MEA has observed a rapid rise in food production and consumption. The food service industry's growth has led to the increased import of various food items such as vegetables, sugar, fat, meat, wheat, and rice. Thus, due to the increasing demand for convenience and ready-to-cook food products, the need for B2B food marketplace platforms is also growing across the region. Further, owing to the strong cultural influence in the region, the practice of dining out by the local masses is significantly lower compared to other regions. Thus, all these factors are contributing to the growth of the food service industry, which is subsequently propelling the adoption of B2B food marketplace platforms in the region.
Based on food category, the Middle East & Africa B2B food marketplace platform market is segmented into chilled and dairy, grocery, beverages, and others. The grocery segment held the largest share of the Middle East & Africa B2B food marketplace platform market in 2022.
Based on enterprise size, the Middle East & Africa B2B food marketplace platform market is segmented into SMEs and large enterprises. The large enterprises segment held a larger share of the Middle East & Africa B2B food marketplace platform market in 2022.
Based on country, the Middle East & Africa B2B food marketplace platform market is segmented int o South Africa, the UAE, Turkey, Nigeria, Morocco, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa B2B food marketplace platform market in 2022.
Agorara (OKNetTV Pty Ltd), Amazon.com Inc, eFoodChoice.com (3 Seasons Technology Co Ltd), and Global Trade Plaza (Webixy Technologies Pvt. Ltd) are some of the leading companies operating in the Middle East & Africa B2B food marketplace platform market.
Increasing Adoption of E-Commerce Platforms Fuels Middle East & Africa B2B Food Marketplace Platform Market
An increase in online purchasing is attributed to the growing number of online retailers and virtual marketplaces across the world. Small enterprises, c-stores, and e-commerce corporations are increasingly focusing on sophisticated solutions such as marketplace platforms. These platforms assist in efficient and effective management and control of their operations and processes. Lowering cross-border trade barriers throughout the world creates significant opportunities for sellers and enterprises to extend their product reach internationally. E-commerce companies, shopping malls, and other businesses, such as small stores and shops, are turning to online marketplaces to sell their products, which is boosting the B2B food marketplace platform industry.Middle East & Africa B2B Food Marketplace Platform Market Overview
The Middle East & Africa (MEA) market is segmented into South Africa, the UAE, Turkey, Nigeria, Morocco, and the Rest of MEA. At present, the Gulf countries are steadily inclining toward the adoption of transformative digital technologies in various industry verticals with an objective to develop and enhance the overall socio-economic conditions of the countries. The changing consumer preference is another factor supporting the rise in the use of digital technologies. Thus, the Middle East & Africa B2B food marketplace platforms market across the region is positively influenced by several factors such as a surge in demand for advanced digital technology and optimization of business operations in the food & beverages and food service industries.The MEA has observed a rapid rise in food production and consumption. The food service industry's growth has led to the increased import of various food items such as vegetables, sugar, fat, meat, wheat, and rice. Thus, due to the increasing demand for convenience and ready-to-cook food products, the need for B2B food marketplace platforms is also growing across the region. Further, owing to the strong cultural influence in the region, the practice of dining out by the local masses is significantly lower compared to other regions. Thus, all these factors are contributing to the growth of the food service industry, which is subsequently propelling the adoption of B2B food marketplace platforms in the region.
Middle East & Africa B2B Food Marketplace Platform Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa B2B Food Marketplace Platform Market Segmentation
The Middle East & Africa B2B food marketplace platform market is segmented into food category, enterprise size, and country.Based on food category, the Middle East & Africa B2B food marketplace platform market is segmented into chilled and dairy, grocery, beverages, and others. The grocery segment held the largest share of the Middle East & Africa B2B food marketplace platform market in 2022.
Based on enterprise size, the Middle East & Africa B2B food marketplace platform market is segmented into SMEs and large enterprises. The large enterprises segment held a larger share of the Middle East & Africa B2B food marketplace platform market in 2022.
Based on country, the Middle East & Africa B2B food marketplace platform market is segmented int o South Africa, the UAE, Turkey, Nigeria, Morocco, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa B2B food marketplace platform market in 2022.
Agorara (OKNetTV Pty Ltd), Amazon.com Inc, eFoodChoice.com (3 Seasons Technology Co Ltd), and Global Trade Plaza (Webixy Technologies Pvt. Ltd) are some of the leading companies operating in the Middle East & Africa B2B food marketplace platform market.
Table of Contents
1. Introduction
3. Research Methodology
4. Middle East & Africa B2B Food Marketplace Platform Market Landscape
5. Middle East & Africa B2B Food Marketplace Platform Market - Key Market Dynamics
6. B2B Food Marketplace Platform Market - Middle East & Africa Market Analysis
7. Middle East & Africa B2B Food Marketplace Platform Market - by Food Category
8. Middle East & Africa B2B Food Marketplace Platform Market - by Enterprise Size
9. Middle East & Africa B2B Food Marketplace Platform Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
List of Tables
List of Figures
Executive Summary
At 14.0% CAGR, the Middle East & Africa B2B Food Marketplace Platform Market is speculated to be worth US$ 3,436.00 million by 2028.According to this research, the Middle East & Africa B2B food marketplace platform market was valued at US$ 1,568.98 million in 2022 and is expected to reach US$ 3,436.00 million by 2028, registering a CAGR of 14.0% from 2022 to 2028. Better communications between SMEs and buyers due to smartphones and tablets and contract-based pricing of products are among the critical factors attributed to the Middle East & Africa B2B food marketplace platform market expansion.
The demand for B2B food marketplace platforms is mainly driven by small and medium enterprises. The availability of well-developed internet infrastructure and acceptance of advanced technologies create a favorable environment for start-ups in the country, especially for companies that use the internet marketplace to do business. Due to lower communication and infrastructure costs, established organizations and major corporations are also gravitating toward the online marketplace. B2B food marketplace platforms allow organizations to reach out to more clients, thereby providing essential exposure to the firm. The rising importance of online marketing tools, such as Google and Facebook advertisements, is also propelling the online marketplace. Furthermore, due to the prominence of social media apps, marketing alternatives are aplenty these days, which aid in the continuous development of the online marketplace.
4G and 5G technologies, which aid in robust internet connectivity, are likely to have a beneficial impact on the B2B food marketplace platform market in the coming years, as it offers users a continuous, seamless experience. Moreover, customers’ exposure to online buying is increasing with the elevating use of smartphones, which supports the market growth.
On the contrary, reluctance among consumers to shift to online buying platforms hampers the Middle East & Africa B2B food marketplace platform market.
Based on food category, the Middle East & Africa B2B food marketplace platform market is segmented into chilled and dairy, grocery, beverages, and others. The grocery segment held 45.7% share of Middle East & Africa B2B food marketplace platform market in 2022, amassing US$ 717.63 million. It is projected to garner US$ 1,654.12 million by 2028 to expand at 14.9% CAGR during 2022-2028.
Based on enterprise size, the Middle East & Africa B2B food marketplace platform market is segmented into SMEs and large enterprises. The large enterprises segment held 59.9% share of Middle East & Africa B2B food marketplace platform market in 2022, amassing US$ 939.85 million. It is projected to garner US$ 1,955.81 million by 2028 to expand at 13.0% CAGR during 2022-2028.
Based on country, the Middle East & Africa B2B food marketplace platform market has been categorized into South Africa, the UAE, Turkey, Nigeria, Morocco, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 35.4% share of Middle East & Africa B2B food marketplace platform market in 2022. It was assessed at US$ 556.18 million in 2022 and is likely to hit US$ 1,141.44 million by 2028, exhibiting a CAGR of 12.7% during 2022-2028.
Key players operating in the Middle East & Africa B2B food marketplace platform market are Agorara (OKNetTV Pty Ltd), Amazon.com Inc, eFoodChoice.com (3 Seasons Technology Co Ltd), and Global Trade Plaza (Webixy Technologies Pvt. Ltd), among others.
Companies Mentioned
- Agorara
- Amazon.com Inc
- eFoodChoice.com
- Global Trade Plaza
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 84 |
| Published | December 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 1.57 Billion |
| Forecasted Market Value by 2028 | 3.44 Billion |
| Compound Annual Growth Rate | 14.0% |
| Regions Covered | Africa, Middle East |
| No. of Companies Mentioned | 4 |
